China's domestic stainless steel market has moved on a strong upward trend during the past seven days.
Global nickel prices have moved on a fluctuating trend during the past week and are now down slightly compared to one week ago. On April 27, the three-month nickel price at the London Metal Exchange (LME) closed at $9,190/mt, while LME nickel inventory on the same date totaled 418,056 mt.
The Chinese domestic stainless steel market has risen strongly in the past week amid overall sharp increases in domestic steel product prices in China, Trading activity is still slack and so traders may offer discounts during actual transactions. As for the coming week, it is expected that domestic stainless steel prices may fluctuate at current high levels.
Specification (mm) | Region | Steel plant/origin | Price (RMB/mt) | Price ($/mt) | Weekly change (RMB/mt) |
202/No.1 (3.0 x 120 x C) | Foshan | Guangzhou Lianzhong | 10,300 | 1,587 | ↑500 |
201/No.1 (3.0 x 1,219 x C) | Foshan | Guangzhou Lianzhong | 6,800 | 1,048 | ↑300 |
304/2B (1.0 x 1,219 x C) | Wuxi | Taigang | 13,400 | 2,065 | ↑1,000 |
304/No.1(3.0 x 1,219 x C) | Wuxi | Taigang | 13,150 | 2,026 | ↑1,000 |
430/2B (3.0 x 1,219 x C) | Wuxi | Taigang | 7,250 | 1,117 | ↑350 |
430/No.1(3.0 x 1,219 x C) | Wuxi | Krupp | 6,100 | 940 | 0 |
All prices are ex-warehouse and include 17 percent VAT.
$1 = RMB 6.49